Securities / Derivatives

SEBI Drafts New Rules for Independent Directors of Listed Companies

02/03/2021

SEBI proposes to introduce a ‘dual approval’ system where appointments of independent directors must be approved by both majority and minority shareholders.

Australia Passes Bill to Enhance Financial Advice Fee Disclosures

02/03/2021

Financial advisers will have to provide clients an annual, forward-looking summary of fees and corresponding services, in addition to existing disclosures.

ESG / Sustainability

Malaysian FIs to Start Applying Climate Risk Taxonomy

02/03/2021

Financial institutions will begin capturing exposures based on the Climate Change and Principles-Based Taxonomy over the course of 2021.

Capital / Liquidity

FSB Urges Indonesia to Further Advance OTC Derivatives Reforms

02/03/2021

Indonesia needs to address legal uncertainties relating to netting for derivatives transactions in bankruptcy to facilitate central clearing and margin requirements.

Capital / Liquidity

CBIRC Issues Draft Rules on Recovery and Resolution Plans

02/03/2021

Deposit-taking institutions, asset managers and financial leasing companies with CNY 300 billion in total assets have to formulate recovery and resolution plans.

AML / KYC

China Renews Anti-corruption Drive with Global Crackdown

02/03/2021

Several government departments including the PBOC will work together to track down corrupt Chinese fugitives and recover ill-gotten gains.

ESG / Sustainability

SEBI to Issue ESG Disclosure Guidelines for Listed Companies

02/03/2021

Chairman Ajay Tyagi said SEBI will issue new guidelines “soon”, with a view to achieving greater transparency and accountability from listed companies on ESG.

AML / KYC

Huawei Launches Hong Kong Court Proceedings Against HSBC

02/03/2021

Huawei is seeking internal HSBC documents it says will help it defend against its CFO Meng Wanzhou’s extradiction to the US to face bank and wire fraud charges.

ESG / Sustainability

BOJ, FSA to Analysis Climate Impacts on Banks This Year

02/03/2021

The BOJ will reportedly work with the FSA to analyse the impact of climate risks on banks in this year’s examinations.